Price (dollars par bar 3.00 2.50 2.00 1.50 1.00 0.50 0 Supply of energy bars (original) 5 25 30 35 Quantity (millions of bars per week) Based upon the above graph, answer the following questions Supply of energy bars (new) 10 15 20 Demand for energy bars
Price (dollars par bar 3.00 2.50 2.00 1.50 1.00 0.50 0 Supply of energy bars (original) 5 25 30 35 Quantity (millions of bars per week) Based upon the above graph, answer the following questions Supply of energy bars (new) 10 15 20 Demand for energy bars
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 20SQ
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Question
Transcribed Image Text:Price (dollars par bar
3.00
2.50
2.00
1.50
1.00
0.50
0
5
10
15
Supply of
energy bars
(original)
Supply of
energy bars
(new)
Demand for
energy bars
20
25 30 35
Quantity (millions of bars per week)
Based upon the above graph, answer the following questions
A) The shift in supply to the right represents a(n)
in supply and new equilibrium quantity is
B) Based upon your answer to A, name two factors that may have caused the change in supply?
C) Would this occurrence result in a surplus or shortage of energy bars? Explain why
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